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How to Buy Gold

May 20, 2009 by  

How to Buy Gold

Twenty months ago the Dow Jones Industrial Average and S&P 500 both hit historic highs—14,198.10 for the Dow and 1,576.09 for S&P.

Then the bubble burst and stocks on the two indices lost more than half their value. The slide seemed to end on March 6, 2009, and since then stocks are up some. Some investment experts say we’ve hit bottom and the recovery may be beginning. Others say of the recent little run-up, it’s but a bear market bounce.

Regardless, America’s economy remains troubled. And with the Federal Reserve throwing new money out the door to fund bailouts, stimulus programs and expanded government services, inflation is bound to follow. And once it starts it’s going to get ugly.

If you need proof, look to the Weimar Republic in Germany. In 1918 the government of Germany began printing money at a dizzying rate, setting off hyperinflation. Prices were rising so fast that workers receiving their pay would immediately run to the store to buy foodstuffs before prices climbed again. Business and industry were paying their employees with wheelbarrow-loads of cash.

In trying to keep up with the falling currency rate, Reichsbank printed a 1,000-billion Mark note that was so worthless that when it was spent few bothered to collect the change. By 1923, with one U.S. dollar equal to one trillion Marks and inflation at 30,000 percent, the collapse of German currency was complete.

Germany is not alone in experiencing hyperinflation. Economic collapse under similar circumstances also occurred in this century in Zimbabwe (last year), Turkey, Romania, Argentina and Russia.

In the U.S., our government tried to spend its way out of a recession in the 1970s. The inflation rate increased by 500 percent—from a 70-year average of 2.5 percent per year to a high of 13.5 percent in 1979.

But government spending in the 1970s is practically zero when compared to what the U.S. government is spending today. Don’t be surprised if you’re soon wishing the inflation rate was only 13.5 percent.

Are you looking for a hedge against inflation? You should look at buying gold and silver. By the way; gold in early October 2007 was selling for $750 an ounce. As the stock market dropped gold took a little ride and is now selling for $936 an ounce.

But you may be like most people who have never considered buying precious metals and don’t know how. It’s not as difficult as you might think.

The simplest and most obvious way to buy gold is in its physical or bullion form. Bullion refers to the metal cast in bars or minted into coins with the weights marked on them.

Actual coins we recommend are the American Gold Eagle, Canadian Maple Leaf, African Krugerrand or the Australian Kangaroo. We prefer these because they are stamped in English, have their gold content stamped on them, come in convenient, well-known sizes (1 oz., ½ oz., ¼ oz. and 1/10 oz.) and sell at small premiums over the value of their gold content.

If you can’t make up your mind which to buy you should probably give more consideration to the American Gold Eagle, which the U.S. mint still lists as legal tender.

For silver we recommend buying pre-1965 U.S silver coins. They were minted using 90 percent silver. They are still legal tender and are worth more than their face value (proving the devaluation of the dollar) because of their silver content.

One of the best ways to buy these is in bags with a thousand dollars face value of dimes, quarters, half-dollars and silver dollars. A bag contains 715 oz. of coins and currently costs between $10,000 and $11,000. You can also buy American Silver Eagles.

There are many places you can go to buy gold and silver coins, both locally and over the internet. Local dealers give you the confidence that you are shopping with a legitimate business—particularly if they have been around a while—and the ability to actually see and hold what you are about to buy. You can make your purchases with cash, if you choose, which will help you remain under the Government radar. Finding a local dealer is as simple as looking in your telephone directory’s yellow pages.

You can also buy gold from Comex, the commodity division of the New York Mercantile Exchange on which gold, silver, copper and aluminum are traded. This is where futures contracts of gold and silver are traded, and it is here where you can buy gold and/or silver futures or actual gold and/or silver bars.

If you want to own larger quantities of gold bullion but have storage issues, look to the Perth Mint, a 100-year-old mint owned by the government of western Australia. In the Perth Mint Certificate Program bullion can be purchased at the mint’s spot market ask price with no markup. There is a service fee and administrative fee, but storage is free. Safety is assured because the metals remain on site and cannot be lent out.

Another option is GoldMoney, available at Through GoldMoney you can open a free account and buy as much gold or silver as you want, as often as you want. You own the actual metal and it is stored in vaults in London and Zurich. The wealth in your account is readily accessible by electronic transfer.

However you chose to buy it you should use any dips in the price of gold and silver to grab more. Gold bugs predict gold will at least double in price. And silver is predicted to do even better.

Remember, he—or she—who hesitates is lost.

Bob Livingston

is an ultra-conservative American and author of The Bob Livingston Letter™, founded in 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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  • deanna kuglin

    Our ?? country is fading away piece by piece……Nancy Pelosi spends like its going out of style… one seems to cross her ….How did one woman get so powerful ? We are told flasehoods by the yard…..Where are the heroes ? Have they all died away ?
    We tighten our belts and beg the government for crumbs….and yes….the meek and non tax paying are inheriting the earth …..I dont want to listen to the press anymore at all…..its already gone down the tubes…..The ones left that pay taxes should get on the band wagon like the rest of them ….why bother to pay taxes, they will just keep giving them away …Our heritage ? thats become a joke….


    • Rob

      Hey I just heard and I am looking for confirmation, that the US Treasury just agreed to release a new currency. Gold Dollars. And the value will fluctuate with the price of gold. Each Gold dollar will be backed by 1 gram of gold. Thats worth way more than a dollar. That would be rock solid currency. And you can spend it just as you have always spent money.

      I sure hope thats true. I have been saying, they need to issue Treasury Notes backed by gold, and let our Federal Reserve Notes lose value and go bust. Devaluing the dollar will devalue our tremendous Federal Debt. Its very clear to me now that the Federal Debt is unpayable. It will never be paid off.

      If true, this appears to be a very good sign.

      However, I don’t trust Washington. There has to be a scam at taxpayer’s expense in there somewhere.

      Anybody know anything about this?


      • Bob Livingston

        I haven’t heard of this. I very much doubt it. Some gold in some form will come into the system but not until the system blows.

        • George

          This is the intro to what I have received. I have forwarded everything I have received to you Bob. You are one of the best informed people I have any contact with, so I assumed you would be able to find out.

          So your position on this is that its a scam?
          It may well be. I have not been able to cross reference this info anywhere. I have written Money Morning, but they do not respond. This is supposedly a report by Peter Schiff. I wonder if Peter Schiff knows about it? I am not going to give them the $50.00 for the report unless I can verify.

          Thanks Bob.

          Dear Money Morning Reader,
          I’m writing with important news about America’s monetary system.

          The U.S. Treasury has finally approved a new gold-backed “dollar.”

          This new legal tender will spend just like regular paper dollars. You can use it to buy wine, shoes, computers, even houses.

          But for those who get in now, the new money could automatically double your savings in just 6-9 months.

          That’s because unlike regular paper dollars, this currency rises in value whenever gold prices rise. And according to experts such as Euro Pacific Capital President Peter Schiff, gold is on the verge of a 100-500% rocket ride.

          That’s why I urge to read the special report we’ve prepared on this opportunity immediately.

          The sooner you get onboard, the faster you can supercharge your cash.


          Mike Ward

        • Rob

          Yes, I think ” New Gold Dollar” opportunity is very similiar to the info that you notified me about from the people at True Wealth. The US Treasury Dept “Gold Glitch.” It sounds very similar.


  • Larry Miller

    I like the idea of gold but have reservations about the process. Perhaps coins are the way to go since they are standardized, but I feel uncomfortable dealing with someone who tells me what something is worth, then gives me a bill.

    While this is the case for regulation, I am not sure running this through licensed dealers whose records would be open to the government for review. We have problems here… but gold does seem to be the best answer now. It’s just getting it we have to deal with.

    • Rob

      Larry, see Gainsville Coins. They are on the web and are reputable. Gold Line is reputable also, but are more pricey and you have to wait 28 days from the time they receive funds, before they ship it out. Don’t allow them to hold it for you. If there is ever a gold confiscation, it will be turned over to the feds in a second. Stash it yourself.

      You could also try to buy locally and pay cash at a coin dealer.
      Numismatic coins were exempt from the last confiscation, but now you’re dealing with collector values, and this is more difficult. And there are no guarentees that numismatics won’t be subject to confiscation in the future.

      You could buy gold jewerly. Thats sneaky….

      I recommend bullion coins like Gold Eagles, and Maple leafs, in a variety of weights for the bulk of your stash, then Silver Eagles, and bags of old silver dimes, quarters, halves, and dollars.

      Have no fear of the price of gold. Gold remains relatively stable. The huge increase in the price of gold is really a reflection of the loss of the dollar’s purchasing power. Gold only appears to rise. So whether you pay $250. an oz or $1,000.00 the price differences are only reflective of the dollar’s strength.

      Try this one…
      Walt Bartee at 1-800-743-1448 Safe and
      trustworthy gold dealer.
      I hope Bob doesn’t mind me posting the contact info….

  • richard


  • Linda

    You’re right. Do those who voted for this “change” not see? The change is that America is no longer the America we once knew. There will not be another terrorist attack. This last presidential election WAS the next attack. Our mainstream media is censored. Bills are being passed to limit our freedom of speech. I look at the lyrics of our Patriotic songs and can’t sing anymore….Where we are headed, those words will not describe America at all. God have mercy on us all.

    • Marvin


      If there were more thinkers like you, the 2010 Mid-term elections might mean something. Much damage will have been done by then (already has) but there is still hope (at the moment). Conservative losses in 2010 would probably spell the end of this republic. Keep talking and writing.

  • s c

    Every American owes it to himself/herself to invest in things that tend to hold their value. When you take a hard look at it, “value” comes down to basic necessities and gold and silver. It is most interesting that our government has tried for many years
    to get us to believe that gold is ‘a barbaric relic.’ When all the bubbles collapse, I doubt very much if the government will look at gold as any ‘relic.’
    FDR set the precedent for confiscation. That was when the dollar was worth having. When this stuff hits the proverbial fan, don’t be surprised if our Washington saviors demand that Americans hand over all forms of gold. It may take exactly that scenario for everyone to understand how truly barbaric our government is. Never forget that wealth does not belong to the government. It never did.

  • Soapbox Hero

    I am reminded of a quote by Thomas Jefferson, “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”

    This is exactly what Jefferson was talking about. The government is wasting our labors (taxes) giving us the pretense of care. Have you tried to get an education based on taxes spent? Or what about medical care? Is there really anything the government gives us back for our labors wage that has been stripped from us? NO.

    Another quote of Jefferson goes like this… “Educate and inform the whole mass of the people…, they are the only sure reliance for the preservation of liberty.” And I totally agree. The people aren’t educated, they are misinformed. We need to be educating our friends, neighbors, and families with reference to history in a manner that doesn’t make us out to be fanatics picking a fight, but true patriots seeking to restore the liberties that have been swept away by the subtle changes that have come to us over many years.

    We need to get people to understand the context of history’s lessons, just as James Madison said, “Do not separate text from historical background. If you do, you will have perverted and subverted the constitution, which can only end in a distorted, bastardize form of illegitimate government.”
    Just as a point of reference, Madison was talking about why the Constitution says what it says, due to the oppression of King George and how we were going to never allow oppression of government. The Constitution was written as a guideline to the people of what they are “called” to do, not as a standard of laws enforceable by government. That is why the second amendment was written altogether. If it weren’t for the people to defend freedom from tyranny in government, then why did Jefferson, Madison, Hamilton and even George Washington promote that the general populace was to be armed and well regulated by themselves to ward off such a tyranny, should it arise. And here’s the kicker, Madison said, “If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy.” Oh how he must be rolling in his grave, to have seen this and even foretold of this time we are in.

    It’s time to have another tea party, it’s time for a call to arms. All this talking is taking us nowhere, and fast.

    Since Jefferson is my favorite, I have many quotes from him on such subjects. Like this, “All tyranny needs to gain a foothold is for people of good conscience to remain silent.” Jefferson.

    “My reading of history convinces me that most bad government results from too much government.” Jefferson

    Jefferson, if you ask a Democrat, was a Democrat, however, his language is that of a Conservative which has always baffled me.

    Our own founding father, George Washington said, “Firearms are second only to the Constitution in importance; they are the peoples’ liberty’s teeth.”

    Everyday, we head deeper and deeper into a tyrannical governmental system. And soon, we will have no freedoms at all. In fact, many of the freedoms Americans believe to have today are merely a facade to keep them from revolt.

    To Arms, To Arms, the Fed is coming!! If we continue to wait, there will be little left to keep them from utterly overpowering us. “For a people who are free, and mean to remain so, a well-organized and armed militia is their best security.” Thomas Jefferson.

    “I abhor war, but in necessity it is the only hope for a people to remain free.” Soapbox Hero

  • http://None Harold O.Tennant

    I will fight to death to defend peoples’ right to hold and keep gold,or any other belonging.
    WII & Korea Vet
    Harold O’Dell Tennant

  • Ronald Nelson

    The best place to get your news is

  • Ronald Nelson

    I buy my Gold from SwissAmerica.

  • Gary




    • Kathie Mahoney


  • foolmeonce

    Please people…let’s not forget WHO was running the country these past 8 years, who took us to a war of choice, the cronies in financial positions under W, the firing of prosecutors that wouldn’t play their evil games. LET’S KNOW FORGET…when the Neo-Cons are in office…they always seem to TAKE THE TOOLS…at our expense.
    NEVER FORGET the crumpling of this country was based on the LIES of BUSH, CHENEY and all the criminals in their administration.
    Critical Thinking vs. Willful Ignorance!!!!!!!

    • givemeliberty

      foolmeonce: And Obama, Pelosi, Reid, Frank, Dodd, etc., etc. are making things better? If you believe that, you need to change your name, NOW, to “foolmetwice”!!

  • http://google joe yechout

    If a person, who is an honest seeker of truth, will believe what God says, and realize that his prophecy has been true down through the ages, he will see that what is coming to pass around the world has been foretold in his scripture.
    The one world view leading to a one world system lead by, eventually a one who is charismatic and winng. Maybe he is not on the stage yet, but he must initially be ” Anti-Christ”. in his views. Since the founding is the Isreali state the history of this world is slated to wind down quickly. God says that when his people, the Isrealites, come into their own, the world will come to the final phase. The peolples of the north and all unbelievers will come against them and then He will bring judgement down upon them, the enemies od God and his people. But first must the anti-Christ come.
    Better be on the right side in this one. J. yechout

  • Rick @ Double Eagle Gold Coin

    Hi, I really have enjoyed your site. Thank You.


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